Kelly Costanza Sells 12,490 Shares of CAVA Group (NYSE:CAVA) Stock

CAVA Group, Inc. (NYSE:CAVA) insider Kelly Costanza sold 12,490 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $90.00, for a total value of $1,124,100.00. Following the completion of the sale, the insider directly owned 98,490 shares in the company, valued at $8,864,100. This trade represents a 11.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Kelly Costanza also recently made the following trade(s):

• On Monday, June 15th, Kelly Costanza sold 2,870 shares of CAVA Group stock. The stock was sold at an average price of $89.43, for a total value of $256,664.10.
• On Thursday, May 21st, Kelly Costanza sold 10,010 shares of CAVA Group stock. The stock was sold at an average price of $79.87, for a total value of $799,498.70.

CAVA Group Trading Up 1.2%

CAVA opened at $89.15 on Friday. The business has a 50 day moving average of $84.11 and a 200-day moving average of $74.17. The stock has a market capitalization of $10.38 billion, a price-to-earnings ratio of 171.44, a P/E/G ratio of 6.04 and a beta of 1.70. CAVA Group, Inc. has a 1-year low of $43.41 and a 1-year high of $98.79.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The business had revenue of $438.27 million for the quarter, compared to analyst estimates of $360.89 million. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. CAVA Group’s revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Equities analysts predict that CAVA Group, Inc. will post 0.55 EPS for the current year.

CAVA Group News Roundup

Here are the key news stories impacting CAVA Group this week:

• Positive Sentiment: Jim Cramer reiterated a bullish view on CAVA, calling it “the best of the new concepts” and recommending it as a buy, which may be boosting investor sentiment. Article: Jim Cramer Calls CAVA ‘Tasty, Clean, Fun,’ Says Make This Biotech ‘Your Speculation’
• Positive Sentiment: The company’s latest earnings beat continues to support the stock, with CAVA posting $0.20 EPS versus $0.17 expected and revenue of $438.27 million versus $360.89 million expected. Article: Cava (CAVA) Up 9.3% Since Last Earnings Report: Can It Continue?
• Neutral Sentiment: Analysts remain generally constructive, with a “Moderate Buy” consensus and an average price target above the current share price, reinforcing the longer-term growth narrative. Article: 2 Restaurant Stocks, 2 Earnings Beats, 2 Very Different Setups
• Negative Sentiment: Several insiders, including CEO Brett Schulman, CFO Tricia K. Tolivar, CAO Adam David Phillips, and executive Theodoros Xenohristos, sold shares near recent highs. The sales were tied to tax withholding on equity awards, but the broad insider selling could weigh on sentiment. Article: Insider Selling: CAVA Group (NYSE:CAVA) CEO Sells 33,174 Shares of Stock

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Mizuho upped their price objective on shares of CAVA Group from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, April 2nd. JPMorgan Chase & Co. lifted their target price on CAVA Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Piper Sandler boosted their price target on CAVA Group from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Citigroup upped their price target on CAVA Group from $75.00 to $92.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Finally, KeyCorp raised their price objective on CAVA Group from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.37.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CAVA. DMC Group LLC boosted its holdings in CAVA Group by 3.7% during the fourth quarter. DMC Group LLC now owns 4,426 shares of the company’s stock valued at $260,000 after purchasing an additional 157 shares in the last quarter. Modern Wealth Management LLC raised its holdings in shares of CAVA Group by 4.2% in the 1st quarter. Modern Wealth Management LLC now owns 3,907 shares of the company’s stock worth $313,000 after buying an additional 158 shares in the last quarter. Bridgewater Associates LP raised its holdings in shares of CAVA Group by 2.4% in the 4th quarter. Bridgewater Associates LP now owns 6,827 shares of the company’s stock worth $401,000 after buying an additional 163 shares in the last quarter. Western Pacific Wealth Management LP lifted its position in shares of CAVA Group by 32.5% during the 4th quarter. Western Pacific Wealth Management LP now owns 729 shares of the company’s stock worth $43,000 after buying an additional 179 shares during the period. Finally, Allworth Financial LP boosted its stake in CAVA Group by 57.4% in the 4th quarter. Allworth Financial LP now owns 650 shares of the company’s stock valued at $38,000 after buying an additional 237 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Company Profile

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.